Now that MoviePass is dead, can we please start funding sensible businesses?

Ding dong, the completely unsustainable witch is dead. As we reported earlier today, MoviePass is shutting down. It leaves behind a few now-useless cards, and several major VC funds out of pocket to the tune of $68.7M. Make no mistake, this was a completely predictable turn of events. For over a year, MoviePass has struggled with cash-flow struggles, primarily because it had an utterly doomed business model. In short, it sold a product (movie tickets) for far less than it cost to acquire, with no concrete plans to reach profitability, save for vague postulations about “analytics” and “partnerships.” At first,…

MoviePass is shutting down MoviePass, the embattled movie-ticket subscription service, is shutting down on Saturday, September 14, its parent company, Helios and Matheson Analytics, announced Friday. Helios and Matheson said that its efforts to recapitalize the MoviePass business, which has lost hundreds of millions…

MoviePass is shutting down tomorrow Graphic by William Joel / The Verge MoviePass, the subscription service that spent enormous amounts of venture capitalists' money subsidizing movie tickets in a bid to upend the theater business model, is officially shutting down on September 14th. The news,…